Title: Having loss is part of experience as a Trader Post by: Dragonfund on August 21, 2020, 08:11:57 AM So you have finally completed that trading guide and how to analyze the chart with some indicators. You are ready to risk it all, with proper management, but there are certain things tutors wouldn't tell you. They will teach you how to set your position, when to enter and exit the market, how to take profits at double top and enter to position at double bottom and finally when to take profit with stop loss.
However, non will teach you how to control your emotion when the market go against you. This happens to many new traders including me, it took me time to admit to some mistakes I made in my early days, this is when guilt and regret set in, which is unavoidable in crypto industry because of market volatility and fake out. Risk what you can only afford to loose so that your mistakes turn you to better trader. A trader should either exit trade with :
Ps: Reading books on how to trade crypto is never enough to make you a pro trader, indicators can fail you as well. Title: Re: Having loss is part of experience as a Trader Post by: cryptoaddictchie on August 21, 2020, 08:50:30 AM However, non will teach you how to control your emotion when the market go against you. When it comes to trading, no one is expert or perfectly can supress his/her emotions that easily. What I meant is, oncr you get the hang of it. There is part of yourself that you wanna still gain more, instead selling off your trades with profit already you wait for a higher profit until the gains sunk and go back to a lower line that eventually become a loss.Avoid being greedy. Set a target and youre good to go. Technical analaysis and fundamental can be learn slowly its just you need enough experience to control those emotions. Anyway there is always win or loss on the market. Title: Re: Having loss is part of experience as a Trader Post by: Charles-Tim on August 21, 2020, 10:15:41 AM Risk what you can only afford to loose so that your mistakes turn you to better trader. You are right, but for new traders. Trading require professionalism, no matter how new trader begin, no matter how good they think they are, they will always lose until they have experience about trading. It is best for beginners to use funds they can easily afford to lose, but not for experienced tradersA small loss You idea is also still good for newbies, but for professional traders, there are times the market will favour them after small losses. That is why it is good to use reliable cryptocurrencies like bitcoin for trading. If you know how to use the indicators like RSI, you will understand what I am implying. There are still many other indicators that are important, relative moving avalerage, exponential moving average and bollinger bands are all important indicators too. Even Huge profit Little profit Professional traders still even lose but their profits are more than their losses. They also trade with right mindsets unlike new traders. Title: Re: Having loss is part of experience as a Trader Post by: Botnake on August 21, 2020, 10:24:54 AM Loss is a normal experience when you are trading, it's pretty similar to gambling when you win or loss sometimes. Traders should take what they are doing seriously, and it should be a long term journey where all you need to do is just to learn and improve by learning from your mistakes and your experience.
In the end, what matters is you will be profitable despite having an experience of loses. Be realistic, just like bitcoin's movement, it's never going in one direction, it's volatile and it's moving in different ways where you can't predict the movement all the time, and actually nobody does, even the so called trading experts. Title: Re: Having loss is part of experience as a Trader Post by: 20kevin20 on August 21, 2020, 11:45:21 AM Or just sit on the side and maybe play with some virtual bucks before actually going in for trading with real money. Most of us take the bait and start trading with absolutely zero experience and knowledge, and this leads to unwanted results most of the time. Sit back, analyze charts and either play with a very little capital or with virtual bucks until you get the hang of it.
Avoiding the emotional side requires a ton of mental strength. No matter if you are extremely bullish on a coin you're trading or not, if you see parabolic candles you might be changing your mind before you know it. So again, just get experience first and leave the real trading for later. Title: Re: Having loss is part of experience as a Trader Post by: 20kevin20 on August 21, 2020, 11:45:48 AM will delete in 24h; double post
Title: Re: Having loss is part of experience as a Trader Post by: GreatArkansas on August 21, 2020, 12:30:33 PM Being a trader is really difficult, especially if you are just starting.
For sure, traders started to learn, especially online, watching videos or reading some articles online/offline. But for me, having an experience on trading is really important, losing and winning experience. Because for sure there are some people out there quit trading after on how many losses they encountered and didn't try to trade again. Title: Re: Having loss is part of experience as a Trader Post by: Cnut237 on August 21, 2020, 12:37:20 PM non will teach you how to control your emotion when the market go against you. This happens to many new traders including me, it took me time to admit to some mistakes I made in my early days, this is when guilt and regret set in, which is unavoidable in crypto industry because of market volatility and fake out. It is often forgotten that practice trading in small amounts doesn't prepare you perfectly for real trading where you are risking large amounts of money. It is easier to keep emotions out of the way when dealing with small trades, because the money doesn't mean that much to you. However it is very easy when gambling large quantities of money, to be in the exact same situation where you made a good decision before with small trades, to now make a bad decision. The reason is as the amount you're trading increases, the emotional impact amplifies. Title: Re: Having loss is part of experience as a Trader Post by: Assface16678 on August 21, 2020, 01:11:07 PM Trading is full of risk it depends on you how you will manage this kind of risk even you already read a lot of books, watched a lot of movies you didn't still have enough experience about trading this is just useless. Trading is full of experience and risk management if you don't want to lose any money trading is not for you so it's better to find another platform you could possibly earn.
Loss is part of trading if you didn't experience this I think you are a god in trading because even the professionals already lose a lot but at the end of the day ignore the loss and focus on profit it doesn't matter how many times you lose your money but the aim is going have profit. Title: Re: Having loss is part of experience as a Trader Post by: SquirrelJulietGarden on August 21, 2020, 01:21:10 PM Having loss does not mean you won't have other losses in the future. Some people don't learn anything from their losses and they don't change their trading or investing styles. End with losses, always. The Pareto principle says traders or investors get profits from 20% of their decisions and the rest (80%) are losses.
Trading means you make your decisions, and accept it as a bet and you would accept loss before you make your orders. Title: Re: Having loss is part of experience as a Trader Post by: prophet malzahar on August 21, 2020, 08:38:03 PM i am in agreeing that sometimes must accept losses as trader no one always wins. it's important not to be too focusing on losses and try to remain clam and make choices.
Title: Re: Having loss is part of experience as a Trader Post by: hatshepsut93 on August 21, 2020, 09:11:56 PM Risk what you can only afford to loose so that your mistakes turn you to better trader. A trader should either exit trade with :
This is just not true, imagine an investor who bought some altcoin in 2017, and now it's down by 90%. Should he keep hodling hoping that the price will moon again? This isn't going to happen, because eventually the coin is going to die and the price will be zero. So, better to cut your losses and save at least the remaining 10% of the investment. Trading is about being flexible, it requires you to analyze the situation and adjust to the market, rather than having some fixed strategy and sticking to it no matter what. Title: Re: Having loss is part of experience as a Trader Post by: taufik123 on August 21, 2020, 10:16:27 PM The harm caused by trafficking will provide invaluable psycho-logical lessons. As a professional trader, technical analysis and fundamentals have really been mastered, but psychology will be very disturbed when it comes to determining where to enter and leave the market. Being complacent with the benefits you get must be instilled in yourself, so you don't have a greedy nature in trading. it will result in the benefits that will be obtained.
Management, money, emotional management will also influence. Trading mistakes will make us better at trading. There is no trading professional without the slightest error. Title: Re: Having loss is part of experience as a Trader Post by: sheenshane on August 21, 2020, 10:47:56 PM A trader should either exit trade with : No, this isn't a good trader.
How can you perform to learn your mistakes if you already exited on the game of trading and take your profit? The best thing to do is learn your mistake and yes, a loss is a part of the experience that you should learn after you will be experienced it. If you have idea how to gamble, I think that was the trading looks like. But the difference is trading isn't based on pure luck, 75% skills and the rest is luck. You should have your own research to increase a chance to get profit. Title: Re: Having loss is part of experience as a Trader Post by: jossiel on August 21, 2020, 11:10:46 PM As long as the loss is acceptable, that's still a good time to cut the losses. Every trader consolidates their losses and just recover it with the other trades that they do. Those losses will teach a lot of lessons as moving further for someone who's looking up to have a good career in trading.
Even not a career but a method that will lead to taking profits. Emotion is the adversary of most traders, it can go as being greedy as you can be but it could also be as demotivating as it can. Title: Re: Having loss is part of experience as a Trader Post by: Velkro on August 22, 2020, 12:20:40 AM However, non will teach you how to control your emotion when the market go against you. When it comes to trading, no one is expert or perfectly can supress his/her emotions that easily. What I meant is, oncr you get the hang of it. There is part of yourself that you wanna still gain moreYou can become robot, this will allow to control your emotion in full. Not controlling emotion in full is what makes us humans :D so pretty hard to eliminate it, thats why Bots are best traders. Title: Re: Having loss is part of experience as a Trader Post by: Eureka_07 on August 22, 2020, 12:43:46 AM A trader should either exit trade with : No, this isn't a good trader.
How can you perform to learn your mistakes if you already exited on the game of trading and take your profit? If that exit is not good, then how you define a good trader? So you mean that a trader should alway keep his bought coins untouched? When do you want to sell those coin? And how much do you want... to consider a huge profit? As far as I know those 4 trade exits mentioned by the OP are the goals of trading( to generate huge profit, get small profit, to neither loss nor win because there's no progress, and cut loss) unless your goal is to loss huge amount of your investment before you make your exit. Title: Re: Having loss is part of experience as a Trader Post by: fourpiece on August 22, 2020, 03:36:04 AM Then dont trade if you dont want to loss. Thats a part of the life of traders sometimes good and sometimes not. But in every loss they will learn from what mistakes they did during trading.
Title: Re: Having loss is part of experience as a Trader Post by: NavI_027 on August 22, 2020, 03:50:06 AM Your thread scares me bro lol. I'm an aspiring trader as well and currently studying the technicalities of it. But after I read your post, I realized that I'm not yet emotionally prepared for this because it was a different thing compared to long term hodling. Now I can foresee myself panicking due to change of trend every hour *knock on the wood. But well, it is still a long journey for me. I should only take it one step at a time to remove the tension :D.
Then dont trade if you dont want to loss. Thats a part of the life of traders sometimes good and sometimes not. But in every loss they will learn from what mistakes they did during trading. Just a clarification, losses are absolutely inevitable but losing oftentimes is not healthy either. Minimize your mistakes as much as possible because we are talking about money here. It is precious thus every cent matters. Title: Re: Having loss is part of experience as a Trader Post by: Wexnident on August 22, 2020, 04:32:29 AM Experience comes with losing, be afraid of when you always win, but don't be afraid when you lose. Those kind of things are what I actually like the most tbh. Winning is nice and all, but really, it just means that you've stopped growing by then, that you've hit a roadblock, but losing? Losing means that there are still countless roads in front of you that you can take. Experience doesn't equate to winning, but mostly to losing, since only losers can see why they lose. Avoiding them is the best way to win after all.
Your thread scares me bro lol. I'm an aspiring trader as well and currently studying the technicalities of it. But after I read your post, I realized that I'm not yet emotionally prepared for this because it was a different thing compared to long term hodling. Now I can foresee myself panicking due to change of trend every hour *knock on the wood. But well, it is still a long journey for me. I should only take it one step at a time to remove the tension :D. No need to be scared, losing is part of everything, not just trading. I'm pretty sure you've lost countless times before, but you didn't really take that into heart and suffer from it no? Learn from them and make them yours. That's the basics of the basics in learning imo. Title: Re: Having loss is part of experience as a Trader Post by: NavI_027 on August 22, 2020, 05:30:37 AM [snip] I'm pretty sure you've lost countless times before, but you didn't really take that into heart and suffer from it no? Also, if you don't mind, may I know what indicator you are using? Because I'm planning to use StockRSI. Title: Re: Having loss is part of experience as a Trader Post by: Dragonfund on August 22, 2020, 07:14:26 AM ........ No, this isn't a good trader. How can you perform to learn your mistakes if you already exited on the game of trading and take your profit? The best thing to do is learn your mistake and yes, a loss is a part of the experience that you should learn after you will be experienced it. If you have idea how to gamble, I think that was the trading looks like. But the difference is trading isn't based on pure luck, 75% skills and the rest is luck. You should have your own research to increase a chance to get profit. Title: Re: Having loss is part of experience as a Trader Post by: GeorgeJohn on August 22, 2020, 08:04:13 AM Then dont trade if you dont want to loss. Thats a part of the life of traders sometimes good and sometimes not. But in every loss they will learn from what mistakes they did during trading. Trading is a something that come with grace,because the advantages in trading and the disadvantages is equavelent or the same,you might trade today with $1000 and make unexpected profit like $4000, which is the advantages of market,then tomorrow you trade with the profit generated everything wipe away which come to the result of disadvantages. Title: Re: Having loss is part of experience as a Trader Post by: Alucard1 on August 22, 2020, 08:42:40 AM Losing your money in trade is really normal, before you enter the trading platform, you should know that there is a high possibility that you may lose your money. There is no way for you to assure your winning in trading, that is why most of the advise that you can read in the internet, saying that you should limit your money in trading and always accept the possibility of losing your money.
Quote From: https://news.bitcoin.com/win-or-lose-these-crypto-whales-share-their-trades/ For crypto whales, throwing around life-changing amounts of money like it’s pocket change is the norm. It’s not that they don’t ever sustain big losses; it’s that they don’t sweat the odd failure and soldier on with nary a complaint. Quote Youtube: https://youtu.be/OuD28KfIlEo This is why 90% of traders and investors lose their money. Title: Re: Having loss is part of experience as a Trader Post by: cheezcarls on August 22, 2020, 09:58:38 AM No matter if you are new, average Joe or an expert in cryptocurrency trading, nothing is guaranteed and very risky as well. Always put in your mind that you will lose most of the time in trading. Anything could happen in the market witout warning. Even technical or trading analysts cannot guarantee that their predictions are correct, due to the high volatility of Bitcoin and other cryptocurrencies in the market.
There are times that even if they’re so knowledgeable in analyzing candlesticks, chart patterns, etc., their predictions are incorrect due to the unexpected happenings in the crypto space (especially scammers who dump their coins or tokens when the time is right). I have to be honest with you guys. I also lost a lot in trading. Because no matter what my decision is, risks are always there and no guarantees that we would win. What we should have in ourselves is managing our financial risks and always prepare mentally and emotionally when worse things happen. And of course, just don’t put all eggs in a single basket. Always diversify so that you’ll not get disappointed if one or a few would go down in value. Title: Re: Having loss is part of experience as a Trader Post by: Kong Hey Pakboy on August 22, 2020, 01:01:02 PM No matter if you are new, average Joe or an expert in cryptocurrency trading, nothing is guaranteed and very risky as well. Always put in your mind that you will lose most of the time in trading. Anything could happen in the market witout warning. Even technical or trading analysts cannot guarantee that their predictions are correct, due to the high volatility of Bitcoin and other cryptocurrencies in the market. Indeed. Trading is a risk that whether you are a newbie, a veteran or a professional trader, you will always experience losses in trading because the market doesn't depend on you. Even you are analyzing the market charts or making predictions, don't expect too much that it could be correct due to the volatility of the crypto market, that is why trading can also relate to gambling because it is also about luck and chances.There are times that even if they’re so knowledgeable in analyzing candlesticks, chart patterns, etc., their predictions are incorrect due to the unexpected happenings in the crypto space (especially scammers who dump their coins or tokens when the time is right). I have to be honest with you guys. I also lost a lot in trading. Because no matter what my decision is, risks are always there and no guarantees that we would win. What we should have in ourselves is managing our financial risks and always prepare mentally and emotionally when worse things happen. And of course, just don’t put all eggs in a single basket. Always diversify so that you’ll not get disappointed if one or a few would go down in value. Title: Re: Having loss is part of experience as a Trader Post by: Febo on August 22, 2020, 02:01:04 PM Having loss is part of experience as a Trader Having loss is also a part of realising that day trade so volatile asset like Bitcoin or even worse the alt coins is very dumb. Specially considering that Bitcoin had huge growth in last 10 years and will have in the future. Decision to become hodler is most wise result from experience of having loss as a trader. If you are a gambler rather go gamble in a casino. You will also get a complimentary drink there. Title: Re: Having loss is part of experience as a Trader Post by: Latviand on August 22, 2020, 03:58:41 PM Like what most of the people say in trading, it is not effective if you don't experience mistakes.
You're probably not growing in your trading journey if you're just sitting there and not exploring the market and the platform that you are using. Losses are part of a gambling journey that you are pursuing so as soon as possible make the best out of it. Learn from your mistakes and never do it again, because it might affect your assets to lose a lot of money again and again. Proper manipulation and control is always essential as a trader. Title: Re: Having loss is part of experience as a Trader Post by: Smartvirus on August 22, 2020, 05:17:44 PM Trading profits the experienced but then, how experience can you be without trying?
The thing is, you've just got to trade first hand but, that's after studying how to in the first place. Your gonna meet missed opportunities and experience some lose but, it's part of the process. Title: Re: Having loss is part of experience as a Trader Post by: Dragonfund on August 23, 2020, 10:53:01 AM I have to be honest with you guys. I also lost a lot in trading. Because no matter what my decision is, risks are always there and no guarantees that we would win. What we should have in ourselves is managing our financial risks and always prepare mentally and emotionally when worse things happen. And of course, just don’t put all eggs in a single basket. Always diversify so that you’ll not get disappointed if one or a few would go down in value. You seems to deeply understand everything I said. The mentality of accepting loss is always difficult at the earliest stage but with time and practice, you outgrown them. It's even recommended for beginners to start from paper trading which is available on trading view, these are test fund one can use for practice since btc and other Alts can found on trading view. This prepare you for the battle and journey ahead. Title: Re: Having loss is part of experience as a Trader Post by: virasog on August 23, 2020, 10:58:06 AM Then dont trade if you dont want to loss. Thats a part of the life of traders sometimes good and sometimes not. But in every loss they will learn from what mistakes they did during trading. Trading is a something that come with grace,because the advantages in trading and the disadvantages is equavelent or the same,you might trade today with $1000 and make unexpected profit like $4000, which is the advantages of market,then tomorrow you trade with the profit generated everything wipe away which come to the result of disadvantages. Trading is not uncertain as you have mentioned. Experienced trader will not lose all of their money at once because they will use stop loss and trade sensibly. Only a non experienced trader will lose all their money. Title: Re: Having loss is part of experience as a Trader Post by: nakamura12 on August 23, 2020, 11:03:07 AM Even the traders that are expert also lose profit and did not recover at all. Mistakes are part of what we want to do. If you starting to work at something you love will have to start at the beginning before becoming an expert at such profession. Traders have to risk their capital for a chance to win huge profit or little profit.
Title: Re: Having loss is part of experience as a Trader Post by: ScamViruS on August 23, 2020, 11:47:32 AM Loss is a normal thing for a trader. The trader sees both profit and loss during his daily trading hours. So an experienced trader is familiar with these. The point to look at here is how many trades you are gaining and how many you are losing. No one can give you profit, you have to gain your own experience. A trader who gains experience from his previous mistakes and uses them in his future trades can refrain from making those mistakes a second time.
Controlling emotions is a very difficult thing for traders. Most traders can't control their emotions just by making losses. Because there is greed among people. And because of this greed, most of the time people face huge losses. Title: Re: Having loss is part of experience as a Trader Post by: Peanutswar on August 23, 2020, 12:19:50 PM If you are a trader and you do not want to have risk and all you want is to win all of those trades I think this is impossible all of the traders have a full of risk with their trades.
We cannot escape the risk but we can avoid lessening the risk. Some of the traders still have a lot of losses on their trades but in the end, the goal is to have a profit which is the most important thing profit is a must if you don't have a profit I think you need tk change your technique or strategy. Also in trading requires a lot of knowledge and more things needed. It's better to make a trade at your own and don't be a dependent to other people like copy trading still it depends on you the important you earn. Title: Re: Having loss is part of experience as a Trader Post by: Finestream on August 23, 2020, 01:09:40 PM Loss is a normal thing for a trader. The trader sees both profit and loss during his daily trading hours. So an experienced trader is familiar with these. The point to look at here is how many trades you are gaining and how many you are losing. No one can give you profit, you have to gain your own experience. A trader who gains experience from his previous mistakes and uses them in his future trades can refrain from making those mistakes a second time. Indeed, though trader always aim for profit but it's part of our journey as a trader that we will experience some loses. This is a game where we need to be smart so we will end up profitable and reaching our goal, not everyday you lose or make profit, but you can be profitable overall if you have correct predictions that your wrong predictions. It can be best learn through experience, that's why it's called a journey as one needs long experience to be consistent. Controlling emotions is a very difficult thing for traders. Most traders can't control their emotions just by making losses. Because there is greed among people. And because of this greed, most of the time people face huge losses. You'll definitely not gonna let your emotion controlled you as you get matured in trading, again, experience would teach you to do that as overtime, you'll learn how to effectively manage the risk. Title: Re: Having loss is part of experience as a Trader Post by: pixie85 on August 23, 2020, 02:09:18 PM Most traders catch themselves making this one little mistake. They think that any loss is unacceptable so they don't sell at a small loss and wait hoping the market will reverse and they're at least able to break even. In the end they need money and after months of waiting take a big loss.
You either are a trader and exit fast or you're ready to go all the way and don't worry whatever the market becomes. Title: Re: Having loss is part of experience as a Trader Post by: rodskee on August 23, 2020, 02:14:41 PM Trading profits the experienced but then, how experience can you be without trying? The thing is, you've just got to trade first hand but, that's after studying how to in the first place. Your gonna meet missed opportunities and experience some lose but, it's part of the process. It's part of the process that you needed to developed, what's good with having guides coming from experts or coming the books and videos that you research with is the sense of anticipations, you will lose that's part of this business but coming from that lose you will earned knowledge and experienced. The very essence of this venue of investment is to keep moving forward, never to stop learning, it will help you big in achieving your goals. Title: Re: Having loss is part of experience as a Trader Post by: BITCOIN4X on August 23, 2020, 02:59:34 PM We cannot escape the risk but we can avoid lessening the risk. You are right, crypto trading and investing is a risky activity and I believe all trader understand enough about this risk unless they are newbie.There is no way to avoid the risk of crypto trading but we can still minimize those risks by taking some of the recommended step such as price analysis, monitoring project progress and certain momentum. I dont think we should force the desire to make big profit from high-risk altcoin because we still have other good investment asset like bitcoin, and some other well-known altcoin. I dont like high risk trading and investing like in new altcoin. High risk, high return, but it is worth considering low risk for small profit as a way to minimize risk. Title: Re: Having loss is part of experience as a Trader Post by: blckhawk on August 23, 2020, 03:21:06 PM Loss is part of the trade. No one is perfect even if the person who has the experience and knows a lot in trading also been lost. It is part of the game. This is the time where you can learn everything because those mistakes you have made will become a guide and inspiration for you to succeed. And you should know that if you are truly a trader. Trading is more likely a 50:50 game you could either lose or win. But you could lessen the risk of losing though, all you need to do is to analyze every situation such as watching the market flow and everything.
Title: Re: Having loss is part of experience as a Trader Post by: daneal stev on August 23, 2020, 05:29:03 PM Loss is one of the basic things in the field of trading, especially if the beginner does not have sufficient experience, as it will be difficult for him to control his emotions and feelings, and his only goal will be to increase profits and achieve large profits in a short time and this behavior is completely wrong. We must get away from greed and we must have great control over emotions and feelings It is good to be satisfied with the small and small profits in the first period and months of entering this field
Title: Re: Having loss is part of experience as a Trader Post by: Xembin on August 24, 2020, 01:05:18 PM Being on top as a business man does not mean you cannot loss in trading, losses in your business, does not mean you are a failure as a trader, keep doing it even though you are not earning any result in your trading, been rest and sure you're heading to your greatness.
Title: Re: Having loss is part of experience as a Trader Post by: Rengga Jati on August 24, 2020, 04:01:15 PM So you have finally completed that trading guide and how to analyze the chart with some indicators. You are ready to risk it all, with proper management, but there are certain things tutors wouldn't tell you. You are right when you are going for trading, be ready for any kind of risk. Noted, risks will be always there every time you are trading or even investing. In this case, not only think about the profit but also risks. That is why there should be funds management and also risk management that must be paid for attention. However, non will teach you how to control your emotion when the market go against you. This is about how ready you are in this risk cycle, how ready your emotion, and how ready yourself to control yourself. the enemy that you will be very hard to fight is you yourself in trading. It is about greedy, panic, angry, careless, hurry, and others. Once you can manage your emotion every time trading, it will save you better. |